The Need For International Exposure When Working In Finance
How relevant is international work experience when it comes to theÂ finance sector? It's more than you think!
Gone are the days when New York and London were the only renowned financial hubs of the world.
Times have changed and Asian cities like Shanghai have risen promptly to compete with these iconic finance centers.
The coming up of new finance hubs around the world indicates how competitive the finance industry has become in recent times.
The more financial markets you work in, the more prolific professional you're likely to become, a trait that will benefit you for the entirety of your career.
The importance of overseas work experience for finance and accounting professionals is further bolstered by a survey of US professionals distributed by Robert Walters, a reputed global recruitment firm. According to this survey, 55% of accountants thought that working abroad was integral to their career development efforts.
Finance and accounting professionals need to keep reinventing their professional and personal skills in order to sustain and enhance their value in the job market, and gaining abroad working experience is an important step in this process.
Now that you know and understand the relevance of international exposure in the finance industry, why not start your career the preferred way with international finance internship in China.
The Transforming Finance Industry Of China
The financial services industry in China is as extensive as it can get, mainly including banking, investment banking, consumer finance, insurance and stock brokerages.
Most of the financial institutions of this communist country are owned and governed by the state.
However, recently China has announced its plans to relax the limitations imposed on foreign ownership of financial services groups.
The government intends to open the doors of finance areas like commercial banking, asset management, insurance, securities and futures to foreign ownership.
These reforms come in the light of China's effort to make its $33 trillion in assets worth of finance sector more globalized in nature.
This is a great time for you to leverage the economic reforms in China with an international finance internship in China.
These reforms that are soon to come about are expected to begin a new chapter in the country's financial liberalization.
The vast finance industry of the country is finally making itself more accessible than ever to the rest of the world.
Partake in this path-breaking move by doing an international finance internship in China and witness from close quarters how these changes impact the industry.
Job Description For International Finance Internship China
Let's discuss what will be your typical work responsibilities for international finance internship in China.
If you have a major in business, economics, accounting or finance, then it will be much easier for you to deliver the quality of work that's expected of you.
In addition to the technical field knowledge, you should also be well-versed with basic computer applications and have an eye for detail and an ability for multi-tasking.
Here is a generic overview of the job description for an international finance internship in China:
Work under supervision to develop and implement practices and policies for accounting, financial management, payroll management, auditing, accounting, and other financial aspects of the company.
Preparation of various routine finance and accounting statements and reports on a regular basis.
Stay updated with the latest financial trends and analyze their implementation value for the company's operations.
Offer assistance in areas like financial research, financial analysis, financial planning, mergers and acquisitions, portfolio management, etc.
Help out in the day-to-day treasury operations, meeting compliance requirements, implementing any new treasury procedures, monitoring treasury related operations, etc.
The work nature of international finance internship in China is pretty eclectic and therefore truly edifying.
Fun Trivia About Chinese Culture & Traditions
China's culture is one of the oldest ones in the world, with its origins tracing back to thousands of years.
As it is one of the earliest ancient civilizations, everything pertaining to China, from its business etiquette to cultural traditions, all have a distinct flavor about them.
Take a sneak peek into China's diverse culture:
Confucianism pervades greatly through the religious, philosophical and ethical beliefs of the country. The principles of Confucianism are greatly regarded even today, after 2500 years. It'd be a good little homework for you to study up some of the philosophical beliefs of the great wise Chinese teacher Confucius for a fuller grasp of the Chinese culture.
Family is a major focal point of the Chinese culture. Kids are expected to take care of their elderly parents. It's common for families to get together for celebrations during traditional festivals. During your stay in China for an international China internship, you'll see how much importance family structure and bonding holds in the lives of Chinese people.
Traditional festivals like Spring Festival, Dragon Boat Festival, Mid-Autumn Festival, Lantern Festival, and Qingming Festival are deemed very important in Chinese culture. The dates of the traditional holidays are determined by the Chinese calendar, an important tool that is also used by the Chinese people to select auspicious dates for occasions like weddings and starting a new business.
Tea is a popular beverage in China that makes regular appearances on formal and casual occasions. Tea drinking is considered a significant part of Chinese culture. Tea is also an important component of Chinese cuisine and traditional Chinese medicine. During your international internship in China, you should definitely try out the popular and delectable tea varieties found here such as black tea, green tea, dark tea, white tea, or Oolong tea.